小鹏汽车公告，2026年1月交付新车20011辆。 ...

2月2日，小鹏汽车-W盘初大跌近10%，最低报64.6港元/股，股价创2025年4月以来新低；截至9时53分，该股跌幅收窄至9.07%，报65.15港元/股。 | 09:53 % | | · 1 5G C | | --- | --- | --- | | ■小鹏汽车-W | | | | 09868 港股通 L2 ▼ | | | | 65.150 >> | 68.000 最高 68.000 最低 | | | -9.07% -6.500 块子 | 0.97% 总量 1510万股 金额 | | | 总值 1245亿 市盈 | -41.87 市净 3.79 | | | ADR报价: 17.980 -3.28% | | (?) (H/ADR) EE () | | 分时 - 五日 - | 日K 周K 月K | 明多 : | | 均价:65.741 最新: 65.150 -6.500 -9.07% | | | | 78.700 | | 9.84% 卖 9 65.55( | | | | 卖8 65.50( | | | | 卖7 65.45( | | | | 卖6 65.40( | | | | ಫ್ 5 65.35( | | | ...

格隆汇2月2日｜小鹏汽车-W(9868.HK)盘初大跌近10%，报64.65港元，股价创2025年4月以来新低。消 息面上，小鹏汽车昨日公布，2026年1月共交付新车20011台，这一数据明显落后于蔚来和理想，同比下 降34.07%。 ...

Core Insights - Xiaopeng Motors reported a total delivery of 429,445 new vehicles in 2025, marking a year-on-year increase of 126% [2] - In December 2025, the company delivered 37,508 new vehicles, achieving both month-on-month and year-on-year growth [2] - The total carbon reduction from the vehicles delivered in 2025 is estimated to exceed 6.61 million tons, equivalent to the carbon absorption of 110 million medium-sized trees over a decade [2]

Group 1: NIO Performance - In December 2025, NIO delivered 48,135 vehicles, marking a historical high with a year-on-year increase of 54.6% [1] - For the entire year of 2025, NIO delivered a total of 326,028 vehicles, also a historical high, with a year-on-year growth of 46.9% [1] Group 2: XPeng Performance - XPeng reported cumulative deliveries of 429,445 vehicles for the year 2025, achieving a year-on-year growth of 126% [3] - In December 2025, XPeng delivered 37,508 vehicles, showing both month-on-month and year-on-year growth [3] Group 3: Li Auto Performance - Li Auto delivered 44,246 vehicles in December 2025, bringing the cumulative total to 1,540,215 vehicles by the end of the year [4] Group 4: Xiaomi Auto Performance - Xiaomi Auto exceeded 50,000 vehicle deliveries in December 2025 [5] - Xiaomi's CEO announced a promotional financing plan for the YU7 model, which has already surpassed 150,000 deliveries in six months, 2.3 times the deliveries of the SU7 during the same period [7] Group 5: Leap Motor Performance - Leap Motor delivered 60,423 vehicles in December 2025, reflecting a year-on-year increase of 42% [7] - The total deliveries for Leap Motor in 2025 reached 596,555 vehicles, with a year-on-year growth of 103% [7] Group 6: Hongmeng Zhixing Performance - Hongmeng Zhixing reported total deliveries of 589,107 vehicles for the year 2025, with a year-on-year growth of 32% [8] - In December 2025, the company delivered 89,611 vehicles, achieving a historical monthly delivery high for three consecutive months [8] Group 7: Zeekr Performance - Zeekr announced December 2025 deliveries of 30,267 vehicles, with a year-on-year increase of 11.3% and a month-on-month increase of 4.9% [11] - The cumulative sales for Zeekr exceeded 224,000 vehicles [11]

Core Viewpoint - Xpeng Motors (09868) experienced a decline of over 3%, with a current price of HKD 80.75 and a trading volume of HKD 446 million [1] Group 1: Delivery Performance - In November, Xpeng Motors delivered 36,728 vehicles, representing a year-on-year increase of 19%, but a month-on-month decrease of 12.58% [1] - This marks the first month of sequential decline for Xpeng in the past six months [1] Group 2: Financial Performance - For Q3, Xpeng Motors reported revenue of RMB 20.38 billion, a year-on-year increase of 102% [1] - The net loss attributable to shareholders was RMB 380 million, compared to a net loss of RMB 1.81 billion in the same period last year [1] Group 3: Future Projections - Xpeng Motors expects Q4 revenue to be between RMB 21.5 billion and RMB 23 billion, indicating a year-on-year increase of approximately 33.5% to 42.8% [1] - The company anticipates delivery volumes of 125,000 to 132,000 vehicles in Q4, which represents a year-on-year increase of approximately 36.6% to 44.3% [1]

Group 1 - The core viewpoint of the article indicates that XPeng Motors (09868) experienced a decline of over 3% in its stock price, trading at HKD 80.75 with a transaction volume of HKD 446 million [1] - In November, XPeng Motors delivered 36,728 vehicles, representing a year-on-year increase of 19%, but a month-on-month decrease of 12.58%, marking the first monthly decline in six months [1] - For Q3, XPeng Motors reported revenue of RMB 20.38 billion, a year-on-year increase of 102%, with a net loss attributable to shareholders of RMB 380 million, compared to a net loss of RMB 1.81 billion in the same period last year [1] Group 2 - The company expects Q4 revenue to be between RMB 21.5 billion and RMB 23 billion, which translates to a year-on-year increase of approximately 33.5% to 42.8% [1] - XPeng Motors anticipates delivery volumes of 125,000 to 132,000 vehicles in Q4, indicating a year-on-year increase of about 36.6% to 44.3% [1]

Group 1 - In October, several new car manufacturers reported record sales during the peak season, with Leap Motor achieving over 70,000 deliveries for the first time, marking a year-on-year increase of over 84% [1] - Hongmeng Zhixing delivered 68,216 new vehicles in October, setting a monthly delivery record and surpassing 1 million cumulative deliveries, the fastest among new brands [1] - Zeekr reported 61,636 vehicle deliveries in October, a year-on-year increase of 9.8%, with Lynk & Co also achieving significant sales [1] Group 2 - Xiaopeng Motors delivered 42,013 new vehicles in October, marking a historical monthly high and a cumulative delivery of 355,209 vehicles from January to October, a year-on-year increase of 190% [2] - NIO delivered 40,397 new vehicles in October, a year-on-year increase of 92.6%, with plans to accelerate deliveries of the new ES8 in November [2] - Li Auto's deliveries fell by 38% year-on-year in October, but the CEO indicated strong demand for the new Li i6 model, with over 70,000 orders [2] Group 3 - Among traditional car manufacturers' new brands, Deep Blue Auto sold 36,792 vehicles in October, with the Deep Blue S05 surpassing 20,000 units [3] - Avita sold 13,506 vehicles in October, while Lantu delivered 17,218 vehicles, reflecting an 82% year-on-year growth [3] - Aipai Technology reported sales of 31,107 vehicles in October, a year-on-year increase of 34.9%, and Zhiji Auto sold 13,159 vehicles [3]

Group 1: New Energy Vehicle Sales Data - Xpeng Motors reported a record high delivery of 42,013 vehicles in October 2025, marking the second consecutive month of over 40,000 deliveries. Cumulative deliveries from January to October reached 355,209 units, a year-on-year increase of 190% [1] - Li Auto announced deliveries of 31,767 vehicles in October 2025, while Xiaomi Motors also reported consistent deliveries exceeding 40,000 units in the same month [1] - Leap Motor achieved total deliveries of 70,289 vehicles in October, reflecting a year-on-year growth of over 84% [1] - Zhiqi Automotive announced sales of 13,159 vehicles in October, with the flagship model Zhiqi LS9 set to debut globally on November 4 [1] Group 2: Financial Performance of Companies - Seres reported a revenue of 110.534 billion yuan and a net profit of 5.312 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 31.56%. Cumulative sales of Seres' new energy vehicles reached 304,629 units [3] - The cumulative delivery of the Wanjie series exceeded 800,000 units, with the Wanjie M9 achieving over 250,000 deliveries in 21 months, setting a new record for 500,000-level models [3] Group 3: Industry Trends and Challenges - The automotive industry faces increasing complexity and challenges due to unilateralism and protectionism, impacting the stability of the automotive supply chain. The domestic economic recovery remains fragile, with insufficient effective demand and chaotic market competition posing ongoing challenges [4] - The implementation of vehicle replacement subsidy policies has significantly boosted the automotive market in 2025, leading to an upward adjustment of retail volume growth expectations for the domestic market [4] - The industry anticipates significant pressure in 2026, with calls for long-term supportive policies to stimulate vehicle purchases and promote economic growth [4] Group 4: Robotaxi Development - Yuanrong Qixing announced a partnership with the Wuxi government to establish a testing and R&D base for Robotaxi services, aiming to launch consumer-grade mass-produced Robotaxi vehicles by the end of the year [5] - Yuanrong Qixing's approach utilizes consumer-grade mass-produced vehicles without the need for additional customized sensors, resulting in lower deployment costs and enhanced system stability [5] - The Robotaxi market in China is projected to experience a compound annual growth rate of 140.7% from 2025 to 2030, indicating significant development potential and commercial value [5]

Core Viewpoint - Xiaopeng Motors achieved a record monthly delivery of 42,013 vehicles in October 2025, marking a significant milestone in its operational performance [1] Delivery Performance - The company delivered 42,013 new vehicles in October, setting a historical high for monthly deliveries [1] - This marks the second consecutive month where deliveries exceeded 40,000 units [1] - Cumulatively, from January to October, Xiaopeng Motors delivered 355,209 vehicles, representing a year-on-year growth of 190% [1]